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Articles by The Corner

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
coronavirus china

In the World, World economy 21st January 2021

China Has A Buffer For Contingencies

Intermoney | China surpassed its economic growth previous to the health crisis. Specifically it recorded 6.5% per year in Q4’20, when in the same period in 2019 it grew by 6%. Thus guaranteeing China’s rapid recovery, while also highlighting the country’s margin for facing up to any temporary turbulence linked to the resurgence of COVID-19. Furthermore, China would encourage the population to continue working to limit the number of people returning to their places of origin during the New Year celebrations.

china industry

World economy 20th January 2021

China: 2021 GDP Growth To Bounce Back To 7.5%.

Jinyoue Dong & Betty Huang (BBVA Research) | Vaccination, accommodative monetary policy with “no sharp turnaround”, possible alleviation of China-US tension under Biden’s presidency and deflationary environment give Chinese authorities a chance for a short respite in 2021.

Solaria bolsa

Ibex, Markets, Spanish economy 20th January 2021

Large Corporate Moves For Solaria, But Stock Overvalued

Solaria, one of the few Spanish listed companies dedicated exclusively to solar photovoltaic generation, has closed a PPA agreement, in its financial form, with Shell Energy, which is the largest signed by the company to date. In addition, its price has revalued 44% in the last three months tahnks to the recent entrance in Solaria’s share capital of iShares, Invesco and the increase in BlackRock’s holding. However, analysts find its valuation is not justified.

Biden Yellen tandem

Relevant News Item 20th January 2021

Waiting for President Biden, Next Treasury Secretary Yellen Goes All Out With The Stimulus Plan

The appointment of the day will be in the United States, where Biden will take office as the country’s 40th President. Donald Trump will not attend the simple inauguration ceremony.The health and economic crises are Biden’s main challenges for the current legislature, including the approval of a $1.9 trillion stimulus plan. Just yesterday Janet Yellen, who will serve as Treasury Secretary in the Biden Administration, defended that stimulus plan in her speech at the Senate. “We must act big,” she said.

madrid property bubble 1

Spanish economy 20th January 2021

Real Estate Investment In Spain Could Grow By 25% In 2021

Intermoney | Real estate investment in Spain should increase by up to 25% this year compared to 2020, says a report by CBRE. So investment would be some €12 Bn in 2021, not including corporate operations like the purchase of Quabit by Neinor. However, CBRE expects uncertainty will remain during the first part of the year at the expense of progress in the pandemic vaccination process. Areas such as rental housing, logistics, and other assets such as student and nursing homes are expected to remain on the rise.

LatinAmerica Covid19

In the World, World economy 19th January 2021

Latin America: Heavy Dependence On Informal Labour And Tourism Exacerbates The Covid-19 Shock

Crédito y Caución (Atradius) | Of all emerging market regions, Latin America and the Caribbean (Latam) has been most affected by the Covid-19 pandemic, both in terms of infection and death rates, and regarding the impact on its economy. The outlook is highly uncertain and weighted down by growing fears of a new wave of infections. Rising prospects of multiple Covid-19 vaccines are definitively hopeful. However, the vaccine rollout is expected to move more slowly in the Latam region compared to advanced markets due to smaller vaccine orders so far relative to population and more logistical challenges. Therefore the economic benefits from the vaccine are expected to manifest first through the improving external environment as rollout across advanced markets boosts trade, commodity prices and external financing flows.
New elected US president Donald Trump

Relevant News Item 19th January 2021

Death, Debt, Tax Cuts and Lies: Trump’s Legacy

Nick Ottens (Atlantic Sentinel) | 400,000 Americans are dead. Trump added $7 trillion to the debt. He told thousands of lies… Donald Trump’s presidency ends on Wednesday. He leaves behind an America that is more in debt, more isolated in the world, less generous and less safe

Faes Farma

Spanish economy, Spanish Small & Mid Caps 19th January 2021

Faes Farma To Expand Its Industrial Capacity With New Production Plant In The Basque Country

Renta 4 | Faes Farma will expand its industrial capacity with a new production plant in Derio (Vizcaya) in order to meet the strong growth expected by the company beyond 2024. The estimated investment will be around €150 M. This will be implemented over the next 4 years and will require an increase in staff of about 200 workers. The new plant will be located in the Zamudio Technology Park, with the potential to manufacture more than 100 M units of medicines. 

tasa tobin ibex35

Spanish economy 19th January 2021

The Tobin Tax On Financial Transactions Already Operating In Spain

The so-called Tobin tax on financial transactions – which will be charged on the acquisition of shares of large Spanish listed firms like Inditex, Iberdrola or Banco Santander – came into force on January 16. The new tax will mainly affect the purchases of these companies’ shares, either in cash or via credit. According to the list drawn up by the Tax Agency, it will be applied to almost 60 companies with a market capitalisation of more than 1 billion euros as of December 16 2020.

bitcoin bullish

World economy 18th January 2021

Bitcoin: Why The price Has Exploded – And Where It Goes From Here

Andrew Urquhart via The Conversation | Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary. From a year-low on the daily charts of US$4,748 (£3,490) in the middle of March as pandemic fears took hold, bitcoin rose to just below US$30,000 by the end of the year. There are plenty of very bullish forecasts for the bitcoin price in 2021. Tyler and Cameron Winklevoss, the founders of leading crypto exchange Gemini, believe bitcoin will eventually hit US$500,000 per coin, while a Citigroup analyst suggests a price of US$318,000 by December 2021.